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United Finance PLC has received in-principle approval from Bangladesh Bank to open an Islamic Finance Window, allowing the non-bank financial institution to offer Shariah-compliant financial services alongside its existing conventional operations.
The company disclosed the development in a regulatory filing on Tuesday, stating that the central bank granted the approval through a letter dated March 8, 2026.
According to the disclosure, the approval is conditional upon several requirements, including amendments to the relevant clauses of the company’s Memorandum and Articles of Association. Once the amendments are completed and other regulatory conditions are fulfilled, United Finance will be able to conduct Islamic finance activities through the new window.
The move will enable the company to diversify its financial products and cater to customers seeking Shariah-compliant financing solutions. Through the Islamic Finance Window, the institution will be able to provide Islamic modes of financing in accordance with Shariah principles while continuing its conventional financial operations.
Industry insiders say the introduction of Islamic finance windows by non-bank financial institutions has been gaining momentum in Bangladesh as demand for Shariah-based financial products continues to grow. The central bank has been encouraging financial institutions to expand Islamic finance services to enhance financial inclusion and provide alternative financing options.
With the approval, United Finance joins a growing number of financial institutions in the country that are exploring Islamic finance operations to tap into the expanding market segment.
Following the news, its stock price jumped 3.17 per cent to close at Tk 13 on Tuesday at the Dhaka Stock Exchange.
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